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DETROIT, MI - On behalf of its client, the Archon Group, PM Realty Group Investment Services today announced that it has successfully negotiated the sale of the North Valley I & II office complex to the Harbor Companies, a real estate investment company based in Farmington Hills. The purchase price was $15,250,000.
Will Kralovec, senior vice president of PM Realty Group Investment Services, and Sandra Collins, also a senior vice president, both represented the seller.
North Valley I & II, four and five stories respectively, is a 131,749 square-foot office complex strategically positioned in the strong Northwestern Corridor sub-market of Detroit. PM Realty Group's Property Services division spent the past three years managing the property for Archon, giving it added expertise in negotiating the sale.
"With PM Realty Group having managed North Valley I & II for three years, our investment services division was able to add a great deal of value to the negotiating table due to our intimate knowledge of the property," said Kralovec. "The synergy and collaboration between the property management and investment brokerage groups of our company was instrumental in achieving the optimal outcome for both parties," he continued.
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